Business
Q3 2021 PRODUCTION REPORT
Q3 2021 PRODUCTION REPORT.
About this update from Antofagasta Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 5864P\n Antofagasta PLC\n 20 October 2021\n \n \n \n \n NEWS RELEASE, 20 OCTOBER 2021\n \n \n Q3 2021 PRODUCTION REPORT\n \n \n STEADY QUARTER AND LOWER COST GUIDANCE\n \n \n \n \n Antofagasta plc CEO, Iván Arriagada said:\n \n \n \"Our copper production and cost performance during the quarter was in line with our expectations despite external pressures such as the ongoing drought in Chile, the global supply chain challenges, the energy crisis and higher input costs.\n \n \"Year-to-date production and net cash costs were very similar to last year at 542,600 tonnes at $1.15/lb and we remain on track to deliver on our previously stated production guidance of 710-740,000 tonnes for the full year and, despite input cost pressures, our net cash costs are now expected to be lower than our original guidance of $1.25/lb.\n \"Since we last reported, there has been no material rainfall at our operations and as we head into the summer months, we do not expect any rain until the next rainy season, which begins in June next year. The construction of the desalination plant at Los Pelambres is on track for completion in H2 2022 and we now anticipate Group production in 2022 to be between 660,000 and 690,000 tonnes reflecting the previously advised production tonnes at risk at Los Pelambres due to the weather, and lower grades at Centinela Concentrates.\n \"The COVID-19 situation in Chile continues to improve but the measures we implemented last year will stay in place as we continue to prioritise the health and safety of our employees and surrounding communities. While we expect the extraordinary global supply chain events and energy crisis to ease over time, we remain focused on controlling costs while progressing our current and future growth projects.\"\n \n \n \n \n HIGHLIGHTS\n \n \n PRODUCTION \n \n \n · \n Group copper production in Q3 2021 was 181,100 tonnes, 1.5% higher than in the previous quarter on higher production at Centinela, partly offset by lower throughput at Los Pelambres\n \n · \n Group copper production for the first nine months of the year was 542,600 tonnes, 0.2% higher than in the same period last year mainly on expected higher grades at Centinela Concentrates, offset by expected lower grades at Los Pelambres\n \n · \n Gold production for the quarter was 66,800 ounces, 8.8% hi...